As the Defi world continues to gather pace and attention, new projects are springing up all the time. The exponential growth of the DeFi industry reflects the potential of digital currencies and decentralized platforms to offer an alternative to the somewhat stagnant world of traditional finance that for decades has seen steady consolidation, stifling innovation and deemphasizing financial inclusion.
The growth of the DeFi industry accelerated in 2020, In fact, Total Value Locked (TVL) – a measure of DeFi transaction value – grew by 14x in 2020. And in 2021, fueled by an increase in the popularity of stable coins, the TVL has more than quadrupled to a total value of $111.27 billion.
Renter.cafe– the newest decentralized yield farm with integrated NFT functionalities which operates on the Avalanche l2 blockchain, aims to offer something for everyone. Whether you are a fan of yield farming, NFTs or just looking for a token to buy and hodl, renter.cafe has something for y
Gamified Auctions
The renter.cafe mission is to gamify yield farming by adding a twist to the existing model. Instead of selling a nonfunctional NFT renter.cafe auctions off NFT’s and designates specific traits to them. The goal of the renter-cafe team is to become a leading Platform with NFT integration, bridging NFT with DeFi with real, innovative, and tangible use-cases.
According to the “Dutch auction” principle, auctions and steal auctions will be held as following: initial price is set higher and will slowly decrease over time until there is somebody willing to pay that specific amount.
Initial Auction – You purchase a NFT from the platform using RENT tokens. All those tokens being automatically burnt thus reducing the total supply.
Steal Auction – Once you acquire your own NFT, it will have a cooldown protection. This means that nobody can steal it from you and you can enjoy all its benefits without worries. Once the cooldown expiries, anyone else can steal it from you if they pay the price. Depending on the specs of the NFT the starting price might be higher. A % of the sell earnings will go to the previous owner and the rest will be burnt.
RENTER.cafe offers a yield farming feature where LP tokens can be staked to earn RENT rewards. The NFTs can also be used to earn higher APR% rewards exclusively paid in RENT tokens. Later on, the $RENT token can also be used for governance voting power which is expected to be rolled out in Q1 of 2022. Having a large amount of $RENT tokens will give you the possibility to create and vote proposals in your best interests.
One to Watch in 2022
Unlike other DEFI projects around the ecosystem, Renter.cafe comes with an original twist and good tokenomics while being backed by a solid and innovative team. We are excited for what is yet to come.
